The Zebra’s Milestone: Profitability and $100M Run Rate in 2020
The insurtech sector has seen explosive growth in 2020, with startups like Lemonade, Hippo, and Root making headlines. Now, The Zebra, a leading car and home insurance marketplace, joins the spotlight by announcing two major achievements: a $100M annual run rate and profitability.
A Breakthrough Year for Insurtech
2020 has been a landmark year for insurance-focused tech companies:
- Lemonade’s successful IPO at a strong valuation
- Hippo’s massive funding round post-Lemonade debut
- Root’s upcoming IPO, poised to cement its unicorn status
Against this backdrop, The Zebra’s latest financial milestones underscore the sector’s momentum.
The Zebra’s Financial Trajectory
Earlier this year, The Zebra secured $43.5M in Series C funding, led by Accel. At the time, the company reported:
- $37M in 2019 revenue
- $60M annual run rate in early 2020
- Projections to double in size by year-end
Fast forward to October, and The Zebra has delivered:
- $8.3M in September revenue, translating to a $100M run rate
- Net profitability, confirmed by CEO Keith Melnick as positive net income (including all costs)
Key Growth Drivers
Several factors fueled The Zebra’s rapid expansion:
- Market Shifts from Offline to Online: COVID-19 accelerated digital adoption, with traditional in-person insurance networks struggling.
- Cost-Efficient Advertising: Lower demand in certain ad channels allowed The Zebra to capitalize on affordable inventory.
- Recurring Revenue Growth: Recurring commissions (now ~10% of revenue, up from 2-5% in 2019) added stability.
What’s Next for Insurtech?
The Zebra’s success raises questions: Are other insurtech startups experiencing similar growth? With VC funding pouring into the sector earlier this year, these results could validate investor confidence—and signal more breakthroughs ahead.
For now, The Zebra stands as a case study in how agile, tech-driven insurance platforms can thrive even in turbulent markets.
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